CHA Biotech to Raise 30 Billion KRW Through Capital Increase, All Shares Acquired by Kakao

KOSDAQ-listed company CHA Biotech announced on November 19 that it has decided to conduct a third-party allotment capital increase to raise approximately 30 billion won for purposes including the acquisition of securities of other corporations.

Through this capital increase, a total of 2,400,192 new common shares will be issued, with the issue price set at 12,499 won per share.

The designated third-party allottee is Kakao Corporation. Kakao will acquire all 2,400,192 new shares issued through this offering.